Juniper Networks reported preliminary net revenue for Q$ 2008 of $923.5 million, up 14% on a year-over-year basis. For the twelve months ended December 31, 2008, Juniper’s revenue increased 26% on a year-over-year basis to $3.57 billion. Juniper posted GAAP net income of $132.5 million, or $0.25 per diluted share, and non-GAAP net income of $169.0 million, or $0.32 per diluted share for the fourth quarter of 2008.
“Even in this tough economy, we managed to grow year-over-year quarterly revenue by 14% and non-GAAP diluted earnings per share by 19%. We continue to play offense and grow market share while at the same time taking action to responsibly manage our cost structure. The long-term growth fundamentals of high performance networking remain strong and by strengthening our product portfolio and focusing on the customer, Juniper is positioned for accelerated growth once market conditions improve,” stated Kevin Johnson, chief executive officer of Juniper Networks.
Juniper’s operating margin for the fourth quarter of 2008 increased to 20.6% on a GAAP basis from 18.2% in the same quarter a year ago. Non-GAAP operating margin for the fourth quarter of 2008 increased to 24.5% from 23.5% in the fourth quarter of 2007. For the fiscal year 2008, Juniper’s operating margin increased to 19.5% on a GAAP basis from 14.4% for the prior fiscal year. Non-GAAP operating margin for the fiscal year 2008, increased to 24.2% from 21.3% in the fiscal year 2007. Juniper said the improvement was achieved through continued cost discipline and improved operating efficiency.
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